Guideline Value for Pudu Street

Pudu Street guideline value

The current guideline value of Pudu Street, located in Mylapore Part 2 village under the Chennai Central Joint I SRO, is Rs 10,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Pudu Street has changed

The guideline value for Pudu Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 10,000 per sq.ft. The latest revision in 2024 has increased this figure to Rs 10,900 per sq.ft, reflecting a change of +9% from the previous year.

Prior to the 2023 revision, there were no recorded figures for Pudu Street in the register for the years mentioned. The significant increase from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024 indicates a notable adjustment in the guideline value.

Guideline values in Mylapore Part 2

Pudu Street's guideline value of Rs 10,900 per sq.ft is above the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO, which range from Rs 4,400 to Rs 25,300 per sq.ft.

• Pudupet Garden Street: Rs 7,700 per sq.ft (2024)
• Pudupet Garden 3rd Lane: Rs 7,700 per sq.ft (2024)
• Pudupet Garden 2nd Lane: Rs 7,700 per sq.ft (2024)
• Pudupet Garden 1st Lane: Rs 7,700 per sq.ft (2024)
• Purupettai Sardar Lane: Rs 7,700 per sq.ft (2024)
• Prasanna Vinayagar Koil Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pudu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 10,900 per sq.ft, the total guideline value amounts to Rs 1,09,00,000. The stamp duty at 7% would be Rs 7,63,000, while the registration fee at 2% would be Rs 2,18,000, bringing the total costs together to Rs 9,81,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pudu Street?

Pudu Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these costs are calculated based on the official rates set by the Registration Department.

When a property transaction occurs, the guideline value helps in assessing the fair value of the property for taxation purposes. Buyers should be aware that the registration fees and stamp duty are calculated on the higher of the guideline value or the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Pudu Street?

The current guideline value of Pudu Street is Rs 10,900 per sq.ft, effective from 1 July 2024.

How has the guideline value of Pudu Street changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, reflecting a +9% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Pudu Street?

Pudu Street falls under the Residential Class I Type - I land classification. This classification is important for determining the appropriate guidelines for property transactions.

What are the stamp duty and registration fees for a property in Pudu Street?

The stamp duty for a property in Pudu Street is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs amount to Rs 9,81,000.

Where can I find the Sub Registrar Office for Pudu Street?

The Sub Registrar Office covering Pudu Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details online.